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Report: Gap warehouse fire loss could hit $400M

A fire at a warehouse of clothes retailer Gap will hit theproperty direct and facultative market with a gross loss of between $250million and $400 million, The InsuranceInsider reported.

Ascot serves as the overall lead, with a 25% line on theprimary $25 million layer. XL Catlin and Endurance Specialty Holdings Ltd. also have lead lines,according to the report. Endurance has a 4.5% line on the first $100 million ofcover, according to the report.

XL Catlin is the global brand used by 's insurance andreinsurance companies.